Read and verify the cash-flow projection

Data, sources, and access to prepare

• A saved rent roll
• Saved income and expense rows
• Saved cash-flow assumptions

• Tenant rent grows by its custom escalation schedule first, or its annual growth rate.
• If a tenant, vacancy, or reimbursement growth field is blank, an older document-level rate may apply; most documents have none, so blank usually means 0%. Enter an explicit rate, including 0, on every row you want to control.
• Additional-income and operating-expense rows grow at their own rate, with zero as the default.
• Expenses are grouped into Property Tax, Insurance, Management Fee, and General Expenses based on their names.
• Reserves are the same dollar amount in every column.
• Debt is interest-only for the I/O years, amortizing afterward, and stops after the loan term. In-Place carries the same debt service as Year 1.
• CREBuilder does not calculate IRR or equity multiple.

Cash-flow review steps

1. 1

   Start with In-Place rent

   Valuation, Cash Flow Projection

   Compare Base Rental Revenue and reimbursements with the saved rent-roll totals.

   Expected result: The first income layer reconciles.

   If this step does not work

   Return to the first mismatched tenant, vacancy, count, rent basis, or reimbursement.

2. 2

   Reconcile vacancy and EGI

   Cash Flow Projection

   Compare Less: Vacancy, Less: Vacancy Factor, reimbursements, other income, and the resulting EGI.

   Expected result: The bridge from base rent to EGI is clear.

   If this step does not work

   Vacancy rows and the vacancy factor stack. Use both only when you want both physical vacancy and a general allowance.

3. 3

   Reconcile expenses

   Cash Flow Projection

   Compare expense buckets and total expenses with Income & Expenses.

   Expected result: The preview expense total agrees with the saved statement.

   If this step does not work

   Rename or correct expense rows if a category is grouped unexpectedly.

4. 4

   Recalculate NOI

   Cash Flow Projection

   Subtract total operating expenses from EGI.

   Expected result: Displayed NOI equals the independently calculated amount.

   If this step does not work

   Return to the first mismatched income or expense subtotal.

   

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5. 5

   Compare Year 1 growth

   Cash Flow Projection, Year 1 column

   Trace each change to a row growth rate, custom schedule, lease-up, vacancy factor, or expense growth.

   Expected result: Every Year 1 change has an input explanation.

   If this step does not work

   Return to the responsible input rather than editing a calculated total.

6. 6

   Verify below-NOI items

   Cash Flow Projection

   Check reserves, debt service, and Cash Flow After Debt against the assumptions.

   Expected result: Below-NOI deductions match your loan and reserve inputs.

   If this step does not work

   Recheck financing term, I/O period, amortization, and reserve dollars.

7. 7

   Verify exit

   Assumptions and preview

   Confirm selected exit year, its NOI, and exit cap calculation.

   Expected result: Exit price matches the independent calculation.

   If this step does not work

   Correct the year or cap rate and wait for autosave if it does not match.

Projection ready

• In-Place income ties to the rent roll
• Year 1 growth and lease-up are explained
• EGI and NOI tie out
• Reserves and debt match your assumptions
• Exit price matches exit-year NOI and cap rate